You know the drill... You can refer back to chapters 10 & 11 for a format for this wiki page.
The Purchasing Process
Process Definitions and Functions
The Purchasing process - Is an interacting structure of people, equipment, methods, and controls that is designed to accomplish the following primary functions:
1. Handle the repetitive work routines of the purchsing department and the receiving department
2. Support the decision needs of those who manage the purchasing and receiving departments
3. Assist in the preparation of internal and external reports.
Internal perspective of Purchasing process
1. Purchase requistion sent from inventory control department to purchasing department
2. Purchase order sent to vendor, inventory control ( or various departments), receiving, and accounts payable.
3. Packing slip (with goods) received from vendor.
4. Stock notice (with goods) sent to warehouse.
5. Notice of receipt sent to accounts payable, general ledger, and purchasing.
The Purchasing Process
Process Definitions and Functions
The Purchasing process - Is an interacting structure of people, equipment, methods, and controls that is designed to accomplish the following primary functions:
1. Handle the repetitive work routines of the purchsing department and the receiving department
2. Support the decision needs of those who manage the purchasing and receiving departments
3. Assist in the preparation of internal and external reports.
Internal perspective of Purchasing process
1. Purchase requistion sent from inventory control department to purchasing department
2. Purchase order sent to vendor, inventory control ( or various departments), receiving, and accounts payable.
3. Packing slip (with goods) received from vendor.
4. Stock notice (with goods) sent to warehouse.
5. Notice of receipt sent to accounts payable, general ledger, and purchasing.